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20130101
20130131
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Search Results 0 to 36 of about 37 (some duplicates have been removed)
have debts they cannot repay. they have three loans adding up to more than 300,000 euros in total. >> it was so easy to get credit. no questions asked. they just gave us something to sign, and we did not read the small print. if you do not have a regular income and cannot make the payments and you are two or three months behind, then you have to pay a late fee. the apartment has and 85,000- euro mortgage, and we pay up to 200 euros a month just to cover the interest. >> they are not alone. cyprus has the highest level of private household debt in the entire eurozone. when the supreme economy was booming and everyone had jobs, private individuals borrowed some 20 billion euros from banks to buy cars and set up businesses, but this crisis has left many unable to pay back their loans. >> i cannot pay my debt because no customers are coming to my shop, and in addition to the credit, i have to pay rent and wages. >> my loan is 1/5 of my salary, which means it is a balanced loan by the government. >> i need to pay 30,000 pounds each year so my son can study in england. i borrow money to
>> right now, the european union is in distress. what would a failed euro mean for the e.u. or for its largest trading partner, the u.s.? >> the '08/'09 financial panic/crash/great recession put tremendous economic financial pressure on the entire global economy, including europe. >> in the same way in which the collapse of lehman implied global shocks, a dissolve in the situation of the eurozone is going to impact the united states. >> while everyone is telling the germans, "bail these guys out now," the germans are saying, "if we're gonna bail them out, we wanna fix the political crisis." >> at the end of the day, europe and the eurozone face an existential question: can we become the united states of europe? >> in a democracy, agreement is not essential, but participation is. >> never before in our history have we been so interconnected with the rest of the world. >> foreign policy is actually not foreign. >> america has faced great hardship before and each time we have risen to the challenge. >> the ultimate test is to move our society from where it is to where it has
the revised opening date of october this year. over one billion euros more could be needed for the project. it was one disaster to many for klaus wowereit. after a crisis meeting, the mayor of berlin resigned from his post. he has come to represent the continued failure of a project which has been delayed yet again. wowereit not give any information about when the airport will finally be open for business. >> a new deadline cannot be given at the moment, as we have made clear. it will be considered by the supervisory board. work on that will be continued as before, but further steps need to be taken before a new deadline can be given. >> the board has reportedly known about the delay for weeks. wowereit's opponents are not happy about that. some say it is time for him to go. >> at this point, it must be said that klaus wowereit is no longer fit for the job, especially if it is true that he left the public in the dark for weeks, leading as a -- leaving us a disaster that will cost hundreds of billions of euros or more. >> beyond 2014, there is little indication when the new hub might open i
opening date of october this year. over one billion euros more could be needed for the project. it was one disaster to many for klaus wowereit. after a crisis meeting, the mayor of berlin resigned from his post. he has come to represent the continued failure of a project which has been delayed yet again. wowereit not give any information about when the airport will finally be open for business. >> a new deadline cannot be given at the moment, as we have made clear. it will be considered by the supervisory board. work on that will be continued as before, but further steps need to be taken before a new deadline can be given. >> the board has reportedly known about the delay for weeks. wowereit's opponents are not happy about that. some say it is time for him to go. >> at this point, it must be said that klaus wowereit is no longer fit for the job, especially if it is true that he left the public in the dark for weeks, leading as a -- leaving us a disaster that will cost hundreds of billions of euros or more. >> beyond 2014, there is little indication when the new hub might open its doors. >>
. the problem is, of course, that he has euro skeptics breathing down his neck in britain in his own party, and i think he is banking on germany and france in particular wanting very much to keep britain in the club, which, of course, they do, but i think he may be puckering too high. the german business community reacted in a very still a way to the threat of but leaving, saying that the german economy would be able to cope with that, though it would of course regret it. even more important, perhaps, the united states reacted very negatively. the relationship between britain and the united states has been the mainstay of british foreign policy for more than a century. yesterday, a member of the state department said that if britain were to leave the european union, that would seriously damage the special relationship between washington and london. >> thank you very much. >> to washington now where u.s. senator john kerry is president obama's choice for the next secretary of state. he has been quizzed by senators ahead of his recommendation. >> the issues like climate change and fighting d
more than 90 billion euros back into greece, spain, and portugal in the final quarter of 2012. that is a jump of 9%. the european central bank president has vowed to save the euro at any price. it is thought to have boosted investor confidence. well, here in germany, consumers are becoming increasingly confident about the future, and as a result, they are spending more money. most importantly, they are spending on big-ticket items and long-term investments like real estate. the record rise in consumer sentiment came after three straight months of decline. >> the latest survey, expectations of higher incomes and declining worries. domestic consumption has been playing a central role. >> germany's traditional -- traditionally known as a nation of savers, but right now, people love to spend. the labor market is robust, financial markets stable, and many consumers feel it is the right time to make big purchases like a new home. that is according to the latest survey of consumer analyst, gfk. respondents have given the overall economic outlook a big thumbs up. >> expectations for t
the european politicians and believing in the euro project, are you? >> well, i was. breaking up, wouldn't be here -- >> you're going to tell me that you're convicted on the aussie/dollar. >> no, i'm not convicted. i'm admitting that i've been wrong. we think aussie is terribly overvalued and that's the problem, frankly. >> good to have you on. plenty more to come from you. the ecb is going to keep its interest rates at a record low today. that's what we expect, anyway. the markets will be listening to the delivery tone of mario draghi's delivery. silvia wadhwa is back at her delivery post. 2013 [ speaking foreign language ]. >> everything is going to stay the same. the ecb hasn't got anything to do right now. they've pretty much said everything on track, probably the best, cheapest intervention they had so far was the program. every month announced again. we stand ready to act, but so far they haven't had to do anything because nobody has asked for an omt program yet. but the market believes that the ecb is there as the backstop. so far, that was very successful. in terms of anything el
infertile women become mothers. in return, she will receive 750 euros per donation. that is a lot of money for the chemistry student. >> it is not a regular monthly income, but it is enough to help the family that urgently needs money. in my case, i needed to pay the registration fee so that i can keep working towards my master's degree. >> donating eggs is legal, and an increasing number of women in spain are doing it, including here. the clinics pay up to 900 compensation and expenses for the examinations, hormone treatment, and egg extraction. anna needs the money. although she is 26, she is almost too old. this clinic is looking for even younger donors, and it has plenty of applicants to choose from. >> every day, we get calls from two or three women who want to donate eggs. we now have a list of 200 donors, even though we do not have that many potential recipients. >> donating eggs is a lucrative source of income. although in spain it is illegal to sell them, donors receive money in the form of compensation. four years ago, this professor was a member of spain's committee on bioethics
of the most indebted regions asking madrid for more than nine million euros. >>> roche strides lower after posting solid earnings on strong sales of its cancer medicine. analysts warn about the loss of exclusive rights to a key chemotherapy drug. >>> game over for super mario and friend to turn a profit. nintendo unexpectedly swings to its full-year forecast to a loss showing a poor uptake for its wii u consoles. >>> see you in september. australia's prime minister sets a surprise election date saying it will create certainty for business. >>> okay. welcome to today's program. and you know, we spent all that time waiting for five. today it's about the ten. >> how long did it take you to come up with that? >> about ten seconds ago. >> very good. we're talking about mobile phones. >> yeah. >> do you think people can guess we're talking about the iphone 5. you're waiting for 5. >> you'll about the 10, ladies and gentlemen, blackberry 10. is it the rim lazarus move? >> we saw stocks get whacked yesterday. >>> in corporate news, a couple of things to keep an eye on in markets. the italian oil c
republic, so the czech republic is investing some 100 million euros to install phase shifters on the german border. they regulate the current. then, when too much current surges over from germany, the chip grid can simply turn it off, even if that blows some fuses in germany. >> 2013 is a so-called super election-year in austria, meaning that voters will go to the polls several times. regional parliaments are due to be elected in four of the country's states this spring, followed by the national election of the federal parliament this autumn. it will not be an easy campaign for the traditional parties. they face competition from a political newcomer. some austrian politicians are reminded of a time in the early 1990's when a man came from the far right and meddled with the traditional austrian political landscape. he died four years ago, and his party has since lost some of its significance, but some former supporters have now found a new political home with a new party. >> he who has the gold makes the rules -- that was the model used when introducing the party in the timber. he was born i
on for their livelihoods. britain exports an annual 80 million euros worth of scallops. the fishing season lasts all year, unlike in france. britain also sells scallops at lower prices and even exports them to france. the french are angered by the thriving british shellfish industry. in normandy, fnce,he attaches are more modest -- the catches are more modest. they cannot fish all year round, giving stocks time to replenish, but their efforts as sustainability are punishing them, they say. >> we've been trying to maintain stocks for years, but they come along and sees all the shellfish from under our noses. we do not think this is acceptable. >> every country's trawlers have an allotted number of days at sea. for these to be cut, a british trawler men would have to fish elsewhere and would not do all their fishing in the english channel -- for this to be cut, a british trawler -- for these to be cut, british trawlermen would have to fish elsewhere. the closed season means the french would not use up all their days. >> we hope we can negotiate with the french to have a swap of effort for us to stay out of
year, it is about 1 billion euros of investment in the car infrastructure. 22% public transport, 750 billion investment in public transport. 21% of the trips from home to work is by bicycle. only 30 million euros per year. this is the network in the region for bicycling. this is the inner city of amsterdam. it is important know, what are the benefits for the employer? i already told you that. also, in the netherlands, we're not so good with racing cyclists. all the champions from last year are from italy, spain, or your country, never from the netherlands. but cycling is more than racing, it is a way of transport. especially for the first 7 kilometers, in combination with public transport. the last lines are important. for instance, in at the city of amsterdam, 85% of the trips are faster by bike then by car -- then by car. i do everything by bicycle. i am a slow cyclist, and i am still faster through the city. that is why most of the people in amsterdam go by bike. if your interested in funny and nice invidious, go to youtube. but you will see a lot of videos in which the bicycle an
for the river and an island for the city. >> 1 trillion euros -- that's roughly how much the eu countries lose every year to tax evasion. brussels is not amused, not least because the euro crisis is far from over. now europe is looking f ways to more effectively track down and penalize tax dodgers. in italy, tax collecting is done by the finance police, the guardia de finanza. employees often used dubious methods when chasing down tax defaulters. the tax collectors work on commission. the more people they catch, the better for them. that is putting pressure on ordinary italians, especially sml and medium-ze cpani. >> it was a spectacular protest against italy's new tax laws. the owner of a small beach bar scaled the dome of st. peter's basilica in rome and stayed put for some 24 hours. when he climbed back down, he was greeted by a cheering crowd. [applause] >> i really hope this tax issue is resolved soon and our small businesses as well as the whole economy can pick up again, at least a little. >> the tax measures by italy's technocrat government under the prime minister are another weapon i
. the german euro booked a 1 million litigation charge which led to restructuring. in an analyst call, it was said the group does not need to issue more sales but left the door open for the cocoa bonds to comply with u.s. regulations. >> meanwhile, santander shares are trading lower after the net profit more than halved to 2.2 billion euros in 2012, hurt by write-downs on property asset necessary spain and a slowdown in latin america. santander says it's returning more than 24 billion worth of ltr loans having taken 35 billion in ultra cheap etr funding. shares down about 2.5%. there's stephane pedrazzi now joins us from madrid. stephane, what's the reaction? >> we've seen a limited market reaction at the open. it's now trading 2.5% lower. the numbers were below expectations. the net profits were the weakest for the last 13 years. 2.21 billion euros. the contends of reuters was at 2.5 billion. there were some massive provisions last year. it's not a big surprise. 18.8 billion euros in total to cover potential losses on the property portfolio. santander says it has completed now its pr
/dollar, 11.6236. euro/dollar, 1.3166. kind of where we were yesterday. asian markets in china and japan will be catching up on news on the u.s. fiscal cliff deal. we'll get december sales figures from japan's retailing. the owner of stores are set to release its q1 earnings today. samsung electronics is expected to post its q4 earnings guidance. that's all on the agenda in asia. but what investors are to do with what we've got so far this year? joining us now, nicholas. these are the classic risk off day yesterday. how do you categorize it and what it means for -- >> well, i mean, obviously, you know, i think it's important to be clear that this was a rally not based -- based not on what the deal did, but what the deal undid. clearly, the good news is that the u.s. americansfully avoided an even bigger fiscal issue. but, you know, i think clearly it shows how low we've actually sunk in the realm of investors expectations when the markets are actually rallying on essentially muddling through. and this is a well trodden path. it's a fairly familiar tale. and we've obviously seen it in the
euros in debt. the treasury's funding this year is being outlined in madrid as we speak. as we get details on that, we'll absolutely bring them to you. we're talking about nations showing up and saying, give us the help. but spain hasn't even had to go that far. >> the spanish base can get some of on their money if they declare official emergencies. what they're trying to do is to avoid saying we really need the help, we're in trouble. all these countries, as the situation continues, it's clear they won't appear to be the only ones to call the situation off. and the spanish are aware of the fact that everyone else is aware of. we can deal with these countries. spain itself is a significantly different issue. this is a european problem, a potentially fatal one, but one that the spanish isn't really up to. >> can we still get beyond the german elections before there is any activation of the omc? >> we're talking about -- >> or can we go everywhere? >> the issue with the omt, if you're a central banker's performance, it's all these acronyms and different names. it's worth bearing in m
markets in europe. perhaps we're seeing a special case of that in europe. >> do you expect the euro to remain weak for the rest of the year? >> i expect the eurozone crisis to remain weak. people will look carefully at special situations across europe. >> and best performer of 2013? >> it's impossible to tell. let's say the whole of the market. >> very diplomatic answer there. david simple sop, thank you very much for coming by. some hopeful signs there. straight ahead on the program, talking of hopeful signs, our next guest is at u.s. oil production not seen since the 50s. what does it mean? we'll explore that when we come back. . >>> welcome back to "worldwide exchange." these are your headlines. the bank of japan steps up its easing agenda under heavy government pressure, doubling its inflation target and promising open ended qe starting next year. >>> president obama lays out a vision for his second term in his innagul address. >>> and this is the face of the new mr. euro. earlier, we had a nine to one ratio of decliner toes advancers.inaugural. earlier, we had a nine to one rat
european partners with his euro skeptics commons. now, he is making a final grand gesture. >> watching televised images of amnestied convicts leaving prison as free citizens. the same people he says are responsible for his losing everything he worked so hard for. now he will be in debt for the rest of his life. >> i will tell you quite openly and with some bitterness i'm no friend of amnesty's like this. it is a sweeping amnesty that is not just affect small-time hoods. at least 120 really big fish who have thousands of victims. >> in the late 1990's, he had a house bill. he paid some 100,000 euros but only got a bear shell. the managers took the money out of the construction company and let it go bankrupt. he had to sink another $100,000 into finishing the house. but that was not all. he feels cheated by the bankruptcy trustee who required him to pay another $100,000 to free the house from bankruptcy. that ruined him. >> i have to come up with some 100,000 euros for the house every month. those are the installments i have to pay for another 15 or 20 years with interest on top. so ther
taken. >> another factor comes into the selection -- money. the models cost between 300 euros and 3000 euros per day depending on how in-demand they are. if another designer can offer more, he will lose out. >> money is what it is all about. we come to a fashion trade fair to find out how the clothes get from the cat look to the store. it looks like we may be a bit early. they are still setting up. here they are -- the clothes we saw during the casting. they are being displayed by the sales agent responsible for selling the close to retailers. she is already looking at stress. -- a bit stressed. she said she has things to organize, and mitchell is not there yet. >> we take a look around the trade fair. there were 900 brands there. all kinds of styles, and lots of eccentric fashion bases. these clothes will not be in stores until next winter. it is a paradise for fashion diehards. it is exciting even for us. >> as the fare gets going, more and more buyers arrive from small boutiques and department stores. melanie is showing off her work. >> this is a collection from a berlin designer. >
higher on the bund yields. sannish yields back over the 5% mark. on the currency markets, euro/dollar is at 1.3361. dollar/yen pulling away from its nine-month highs at 88.70th at the moment, as well. that's where we stand in europe. sixuan has more for us from singapore in the asian session. >> sure. thank you, ross. asian markets were a bit of a mixed bag. the shanghai composite gained .6% after yesterday's 3% job. since then, numbers were boosted by china's top security official who said beijing could lift the quota for investors to invest in the mainland markets by as much as nine times. environmental stocks surged. aerospace stock took off on an upbeat industry outlook. the hang seng finished marginally in the red. oil majors and telcos were the market laggers. persisting weakness in the yen boosted exporters. meanwhile, in technology shares wait on south korea kospi ending lower with 1.2%. in australia, the asx 200 ended just a touch below the line. miners were weaker. more on that from our guest later in the show. back to you, ross. >> thanks for that, swish won. catch y
. on the currency markets, a bit on profit taking setting in there. we're now at 97.69. euro/dollar, we hit just below 1.30 on friday. we keep our eyes on those markets. meanwhile, the italian legend could be set for another twist after sylvia berlusconi's party announced it was close to announcing an alliance with the northern league which would mean that democrats let by pasani would be denied a majority of the senate and that would force them to make their own alliance. this after the weekend suggests monti would come third in the election with up to 15% of the vote. let's move back down to the desk and continue our discussion. we saw the declining yields since berlusconi left. well over 8%, actually. and now we're just at over 4%. how much is the fact that we may get an undecided election, what will that do for sentiment around italy? >> i agree that the risks to the rally we've seen in italian income. i think the biggest risks in the short-term are political risks. in the end, i think the election situation in italy is staying pretty much as we expected. we expect any party would achieve an
% of those surveyed would prefer the uk to leave the euro. >> i should have said leave the european union. britain can't leave that monetary issue. we'll have plenty more on the relationship between britain and europe. for now, we can look at the relationship with markets. the euro stoxx 6700 is down about 0.4% today. not a done of differentiation. the biggest gainer, interestingly, is monti paschi. some of the airlines are struggling, too, on the back of ryan air's results. now take a look at what's happening across the bourses. we're seeing somewhat again of a trading pattern here after the last several trading sessions where it's not consistent. we'll get those up for you just as soon as we can. today, it's down pretty much across the board. the ibex shedding 0.12%. the cac 400.15% the. the xetra dax is also down 0.1%. the ftse 1100, same thing. pretty consistent story across these indexes here. it's a big week for earnings, too. in the meantime, let's take a look at the bond wall. it's been interesting, actually, to see the lack of action, lack of attention markets have been paying he
coming in stronger in the real star here. the euro topping 135 for the first time since april 2010. and strengthening even more after the gdp release. overnight in iasia, the nikkei p from 2010. the road map starts with the markets. today may be the day some milestones are hit. we're just about 2% away from dow 14,000. a level we have not traded above since october 17th, 2007. the s&p 500 less than 4% below its october '07 record high. can the bulls overcome the news of the surprise contraction in gdp. >> anticipation building, at least certainly here for research in motion. that being the blackberry 10, will it be enough to sustain the run. we'll take a look. >> amazon shares rocketing higher this morning. investors looking past the revenue and weak guidance, focusing instead on the gains in operating in gross margins. shares are set to open at record highs. >> look at chesapeakchesapeake,d of directors announcing the founder retiring in april. >> we do begin with a stunning gdp report. the economy contracted to 0.1% in the fourth quarter. first decline since 2009. this as we rema
. >> thank you very much. what will it mean for the euro if the ecb cuts interest rates at 8:00 a.m. tomorrow morning? good morning. positioning for a cut? >> i'm positioning short. but i don't think they're going to cut this time around. there's so many reasons for the ecb to want to cut rates. i think we're looking at an actual cut three months out. german economic data has been pretty weak. i feel like that the position for euro wants to go to the downside. we saw poor german data, obviously the core of the european union. and the reason the ecb hasn't let the euro go. i think they're going to prep the markets next time for a cut. >> what are your levels? >> well, 131.20 was interesting. a level we tried to break through all fall. we finally got above it. now the market in the technicals should be support. it didn't hold the support. you want to go short the euro. >> are you a dollar bull overall? are you getting behind other trades on the basis that the greenback could go higher, higher interest rates in america? >> absolutely, simon. the dollar has this underlying bid ever since the fed
Search Results 0 to 36 of about 37 (some duplicates have been removed)